Major Projects Succeed in Jizzakh FEZ
Large-scale projects are reported successful at the Jizzakh Free Economic Zone, implemented together with foreign investors.
The enterprises operating in the joint stock company Uzqurilishmateriallari pay special attention to providing the population with quality building materials, reducing the volume of imports through the modernization of manufacturing capacities, expanding the output of export-oriented goods and creating new jobs.
Cooperation with foreign investors for the development of the sphere opens up extensive opportunities for achieving these goals. The current legislation in Uzbekistan has created for foreign investors all the benefits and preferences provided for in international norms.
Minguan Silu Industry, a joint venture with Chinese investors, organized in Jizzakh in the framework of the project at a total cost of $ 110 million, has a production capacity of 24 million square meters of glass per year. At the first stage of the enterprise, $ 29 million was used last December, production of 4 million square meters of decorative glass was set up. This contributed to the creation of 210 jobs.
One more enterprise has begun work these days. The Uzbek-British joint venture, Mega Invest Industrial, opened in the Farish district of the region. The total cost of the project for the production of modern fittings of 2,500 tons of basalt fiber is $ 61.1 million, of which $ 36.4 million is bank loans, $ 17.6 million is foreign investment and $ 7.1 million is the company’s own funds.